Pension changes considered in legislature
As OCSEA indicated in a recent story in the Public Employee Quarterly, it looks like there is finally some movement on changes to the Ohio Public Employees Retirement System. Ohio Senators introduced four bills this week and heard testimony from OPERS Executive Director Karen Carraher and staff from the other public employee pension systems.
OPERS indicated the fund is losing about $1 million a day. The OPERS Board of Trustees made the recommendation three years ago to increase service eligibility by two years to ensure the fund stays solvent. Also at risk without reforms is the OPERS health care benefit, which would run out as early as 2014.
Word is still out as to whether changes will ultimately pass the legislature. While the Senate may pass something before legislators take a summer recess, Ohio House Speaker William Batchelder has indicated that the House would wait to weigh in for an actuarial study expected to be finished in July.
To learn more about the OPERS recommendations and the future of retiree health care, OCSEA members are encouraged to attend one of the OPERS-sponsored meetings being held this spring and early summer: OPERS pension regional meetings:
May 22 -- Columbus • 5:30 p.m. • OCSEA, 390 Worthington Rd., Ste A, Westerville [MAP IT]
June 6 -- Dayton • 5:30 p.m. • Council 8, 15 Gates St., Dayton [MAP IT]
June 12 -- Toledo • 5:30 p.m. • Council 8, 420 South Reynolds Rd., Toledo [MAP IT]
June 26 -- Cincinnati • Council 8, 1213 Tennessee Ave., Cincinnati [MAP IT]
Read more from OPERS on recommended plan changes here.
OPERS indicated the fund is losing about $1 million a day. The OPERS Board of Trustees made the recommendation three years ago to increase service eligibility by two years to ensure the fund stays solvent. Also at risk without reforms is the OPERS health care benefit, which would run out as early as 2014.
Word is still out as to whether changes will ultimately pass the legislature. While the Senate may pass something before legislators take a summer recess, Ohio House Speaker William Batchelder has indicated that the House would wait to weigh in for an actuarial study expected to be finished in July.
To learn more about the OPERS recommendations and the future of retiree health care, OCSEA members are encouraged to attend one of the OPERS-sponsored meetings being held this spring and early summer: OPERS pension regional meetings:
May 22 -- Columbus • 5:30 p.m. • OCSEA, 390 Worthington Rd., Ste A, Westerville [MAP IT]
June 6 -- Dayton • 5:30 p.m. • Council 8, 15 Gates St., Dayton [MAP IT]
June 12 -- Toledo • 5:30 p.m. • Council 8, 420 South Reynolds Rd., Toledo [MAP IT]
June 26 -- Cincinnati • Council 8, 1213 Tennessee Ave., Cincinnati [MAP IT]
Read more from OPERS on recommended plan changes here.



